The Toronto-Dominion Bank (NYSE:TD) Stock Position Cut by Scotia Capital Inc.

Scotia Capital Inc. cut its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,047,091 shares of the bank’s stock after selling 543,674 shares during the period. Toronto-Dominion Bank comprises about 3.1% of Scotia Capital Inc.’s holdings, making the stock its 7th biggest holding. Scotia Capital Inc. owned 0.63% of Toronto-Dominion Bank worth $588,047,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Toronto-Dominion Bank in the fourth quarter valued at approximately $992,204,000. FIL Ltd boosted its position in shares of Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Toronto-Dominion Bank by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock worth $569,878,000 after buying an additional 2,564,648 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after buying an additional 1,415,934 shares in the last quarter. Finally, Guardian Partners Inc. acquired a new position in Toronto-Dominion Bank in the 4th quarter valued at about $38,332,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TD shares. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Finally, Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $57.55 on Thursday. The stock has a 50 day moving average price of $59.08 and a 200 day moving average price of $57.31. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $100.85 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.7278 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 5.06%. Toronto-Dominion Bank’s dividend payout ratio is currently 85.29%.

Toronto-Dominion Bank Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.